Time Brokerage Option Clause Samples

Time Brokerage Option. 22 SECTION 7 CONDITIONS TO OBLIGATIONS OF BUYER AND SELLER AT CLOSING..............................................23 7.1 Conditions to Obligations of Buyer.................................................................23 7.2 Conditions to Obligations of Seller................................................................24
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Time Brokerage Option. Upon the satisfaction of each of the TBA Option Conditions, as defined below, Seller may, at its option, deliver to Buyer a written notice indicating Seller's intention to enter into the Time Brokerage Agreement (the "TBA Option Notice"), whereupon Buyer and Seller shall execute and deliver the Time Brokerage Agreement effective as of the day that is 30 days following Buyer's receipt of the TBA Option Notice. Seller shall not be permitted to deliver the TBA Option Notice until each of the following conditions (the "TBA Option Conditions") shall have been satisfied: (a) Seller shall have entered into one or more lease agreements, in form and substance acceptable to Buyer, that grant Seller uninterrupted access to (i) antenna space and related premises required for the operation and maintenance, as currently operated and maintained, of the Station's existing auxiliary antenna described in Section 2.0(a) of the Tampa Tower Lease, and (ii) transmitter building space and related premises required to operate and maintain, as currently operated and maintained, the Station's transmitter; (b) Seller shall have entered into the New Lease; (c) the Station shall have commenced regular broadcast operation without interruption at full authorized effective radiated power and in accordance with generally accepted standards of good engineering practice from, as applicable, the auxiliary antenna site specified in the Tampa Tower Lease or the primary antenna site specified in any New Lease; (d) Seller shall have delivered to Buyer estoppel certificates from the lessors under the leases referred to in Sections 6.14(a) and (b) above; and (e) If applicable to the commencement of the transactions contemplated by the Time Brokerage Agreement, the waiting period under the HSR Act shall have expired without unresolved action by the DOJ or the FTC to prevent such commencement.
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Related to Time Brokerage Option

  • Coverage Options Eligible employees may select coverage under any one of the dental plans offered by the Employer, including health maintenance organization plans, the State Dental Plan, or other dental plans. Coverage offered through health maintenance organization plans is subject to change during the life of this Agreement upon action of the health maintenance organization and approval of the Employer after consultation with the Joint Labor/Management Committee on Health Plans. However, actuarial reductions in the level of HMO coverages effective during the term of this Agreement, including increases in copayments, require approval of the Joint Labor/Management Committee on Health Plans. Coverage offered through the State Dental Plan is determined by Section 7A2.

  • Termination of Repurchase Option Sections 2, 3, 4 and 5 of this Agreement shall terminate upon the exercise in full or expiration of the Repurchase Option, whichever occurs first.

  • Vesting of the Option Subject to the Participant’s continued service to the Company through the applicable vesting date and the terms of the Plan, the Option shall vest in equal installments on each of the first five (5) anniversaries of the Date of Grant, such that twenty percent (20%) of the Option vests on each such anniversary (each, a “Vesting Date”). At any time, the portion of the Option which has become vested in accordance with the terms hereof shall be called the “Vested Portion.”

  • Rights as a Stockholder The Participant shall have no rights as a stockholder with respect to any shares covered by the Option unless and until the Participant has become the holder of record of the shares, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided for in the Plan.

  • Option Shares For the purposes of covering any over-allotments in connection with the distribution and sale of the Firm Shares, the Company hereby grants to the Underwriters an option to purchase up to [●] additional shares of Common Stock, representing fifteen percent (15%) of the Firm Shares sold in the offering, from the Company (the “Over-allotment Option”). Such [●] additional shares of Common Stock, the net proceeds of which will be deposited with the Company’s account, are hereinafter referred to as “Option Shares.” The purchase price to be paid per Option Share shall be equal to the price per Firm Share set forth in Section 1.1.1 hereof. The Firm Shares and the Option Shares are hereinafter referred to together as the “Public Securities.” The offering and sale of the Public Securities is hereinafter referred to as the “Offering.”